Good morning! Tom Heath for the Heath Team at Nova Home Loans. Today is October 19th and this is our weekly installment of Mortgage and Real Estate Matters.
Today’s topic is VA loan eligibility for the surviving spouse of a deceased veteran. Gotten a few questions on this in the last couple of weeks so I wanted to address it. When a veteran passes, their home loan eligibility does not automatically transfer to their surviving spouse. If their death is service-related, if it’s connected to their time in the service (and it can be years after their service), but if the passing of the veteran is connected to their time in service, then a lot of times the veterans surviving spouse is eligible for those benefits.
We would need to go through the VA and get a Certificate of Eligibility and that could be a little bit of a lengthy process if we’re just starting it from scratch. So keep that in mind. When in doubt, always have the client give your lender or call and talk about the specifics, but don’t assume just because they have a spouse’s VA eligibility letter, that that will transfer to them upon their passing.
If you have any questions, give us a call directly head over to our website TheHeathTeam.com, shoot us an e-mail. Let us know how we can answer your questions, and if there’s any topics you would like us to cover on these weekly updates. Have a great weekend! Talk to you next Monday!